Help to Buy
Secure your Reiver Home with a 5% deposit
The Government-backed Help to Buy initiative is available to help home buyers move into a new-build home with just a 5% deposit on homes up to the value of £600,000. The Government will lend you up to 20% of the value of your new home through the Help to Buy: Equity Loan scheme, meaning you only need to secure a 75% mortgage.
For example, if you were to buy a home valued at £200,000, you could purchase the property with just a 5% deposit (£10,000) and a 75% mortgage (£150,000) with the remaining 20% (£40,000) made up by the Help to Buy: Equity Loan.
The 20% Equity Loan is interest free for the first 5 years of owning your home, which could make your monthly mortgage repayments lower. This initiative is available to help all homebuyers, not just first time buyers, to own their own new build home in England.